Retailers Reveal What They Learned From the Recession



The recession has broken many store owners of two retail habits that went from profit-killers to business-closers when the economy tanked two years ago: carrying too much inventory and poorly managing their cash flow.   “I’ve seen jewelers hold on to inventory for three to five years,” says David Peters, director of education for Jewelers of America. “These days, jewelers are more proactive about turning [it].” When the crisis began in the fourth quarter of 2008, the first instinct for many retailers was to begin selling down their inventory to pay off debt and reinvest only in best-sellers and fast-turners. To quickly streamline their stock, retailers discounted, parted out, or scrapped nonperforming finished jewelry.   At the same time, store owners started to reevaluate, and perhaps end, their relationships with vendors. Those that were flexible and suppo
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out